Vancouver, British Columbia – May 12, 2017 – Targeted Microwave Solutions Inc. (TSXV:TMS) (“TMS”) announced today that, further to its previous news release, it has entered into an amended loan agreement with Satellite Overseas (Holdings) Limited (the “Amended Loan Agreement“), amending the existing loan agreement dated March 8, 2016.
The Amended Loan Agreement increases the aggregate principal amount under the loan to US$1.35 million. The loan matures on December 31, 2017 and accrues interest at a rate of 8% per annum from the date of advance of the initial loan, calculated semi-annually.
On behalf of the Board of Directors,
“Dr. James Young”
Chief Executive Officer and Chairman
+1 (778) 995 5833
About Targeted Microwave Solutions Inc.
Targeted Microwave Solutions Inc. is a clean technology company that designs and manufactures vertical WAVEdri® microwave reactors to dry and process coal, clay and biomass, including wood fibre. As a global leader in the advancement of microwave technology the Company’ s mission is to provide the industry with a cleaner and more efficient technology solution, which replaces traditional industrial dryers and kilns, by eliminating toxic emissions, reducing energy requirements and conserving significant amounts of water at a lower capital investment.
The Company’ s R&D and commercial demonstration plant in King William, Virginia is strategically located near several major industrial clay-based and biofuel manufacturers. The marketing and testing facility in Shanghai, China collects and analyzes material samples from nearby coal power plants and coal mines. The Company is a reporting issuer in Canada and is listed on the following stock exchanges:
| TSX-V: TMS | FRA: A2ACNT | OTCQX: TGTMF |
For further information, visit www.tmsenergy.com or the Company’s public disclosure filing on www.sedar.com.
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